Saturday June 6, 2020

EXCLUSIVE: Gerry Barrett and his personal guarantee problem

Developer's assets now valued at just €60m

14th September, 2017
The Meyrick Hotel, part of the portfolio, was built in 1852

Gerry Barrett, the property developer and hotelier currently battling to save his empire, is on the hook for personal guarantees totalling hundreds of millions of euro.

Documents show that Barrett gave personal guarantees for almost all his borrowings, a move that now leaves him significantly exposed as the value of his assets comes nowhere near his boomtime borrowings.

Barrett is currently battling to save Meyrick Hotel, the five-star G Hotel and Eye Cinema in Galway...

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